The ease of travel, the wide array of experiences and the safety and sophistication are making Panama one of the most attractive emerging tourism destinations in the world. Residents and visitors can enjoy two different oceans, experience the mountains and rainforest, learn about native cultures and take advantage of vibrant urban life. The capital, Panama City, is a modern, sophisticated metropolis that resembles Miami and has established commerce, arts, fashion and dining. Fodors, Frommers and National Geographic have all recently began publishing guides for Panama, only the second country in Central America to have such extensive travel coverage. Add in a stable, Democratic government, a hurricane-free location, US currency and a population where most business people and residents speak English as well as Spanish, and you have one of the most sought-after destinations for travelers from all of the world.
Because of its geographic position, it is very unlikely that Panama could be in the path of any hurricane, unlike the other Central American countries. Panama is 'tucked away' at 9 degrees latitude – below the reach of hurricanes-- and has not experienced a hurricane since 1969, the only one to ever be recorded in its history. This is one of the key reasons why coastal residents and second-home owners choose Panama over other Central America, Mexico and Caribbean locations.
Panama is known as the "Crossroads of the Americas" due to its privileged position between North and South America. The indigenous meaning of the country's name, "abundance of fish", reflects Panama's reputation as a paradise for water sports enthusiasts and eco-tourists alike. Panama was also recently named the country with the most bird species in the world; over 900.
The Panamanian economy has been among the fastest growing and best managed in Latin America. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in the five-year period 2010–14, matching Brazil's 10% rate. Panama's government has strong ties to the United States and strongly supports business, development and tourism. The International Monetary Fund applauds the country's diversified economy and predicts it to have one of the strongest GDP growth rates in the world for the next several years. In fact, The Latin Business Index places Panama as the best business climate in Latin America, surpassing Chile in 2010. Direct foreign investment grew by 25% in the last year as Panama continues to lead Latin America with the highest per capital foreign investment.
Panama is known for its highly developed international banking sector, with about 80 banks from several countries establishing local branches, including HSBC, BBVA and Citi Bank. Currently undergoing expansion, the Canal continues to drive Panama's service-based economy and remains one of the most important transportation links in the world.
In addition to the country's strong economic base, Panama's physical infrastructure, including modern hospitals, airports and roads, is much more highly developed than its Central American neighbors, and rivals any major city in the world. During the last several years, Panama has invested millions into infrastructure development with highway expansions and new roads in the interior of the country, the metro system, hospitals, and airport expansions and upgrades.
Panama has used the US Dollar as its only currency since 1904, and mints its own coins in the same weights and sizes as US coinage, but with Panamanian stampings (Panama's coins are actually made by the US Mint). In fact, the Panamanian coinage is completely interchangeable with standard US coinage in Panama. You may get a handful of change back with a conquistador on the quarter and an Indian on one of your pennies, but Lincoln on the other penny and Roosevelt on the dime. Incidentally, if you run short on change in the United States, Panamanian coins work in parking meters, payphones, vending machines, etc.
For more detailed information on Panama, click on http://wikitravel.org/en/Panama
